The deal consisted of an expansion of 2,424 sf, which will be combined with Pentegra's existing 25,081 sf of space, Choyce Peterson officials say. With nearly $3 billion in assets under management, the Pentegra Group provides retirement-planning programs and services to more than 450 clients nationwide.
"There was a wide selection of class A buildings on the market," says Kenneth H. Montgomery, president and chief executive officer of the Pentegra Group. He notes that the firm had toured a number of buildings before making its decision to stay at its current location.
"In this downward spiral of the economy, we have seen a shift in momentum during transaction negotiations over the past few years--from the building owner side back to the tenant," says John Hannigan of Choyce Peterson. "With proper representation, tenants are able to benefit from lower rental rates, free rent and increased tenant-improvement dollars provided by the owner."
The property totals approximately 112,000 sf and is part of EastRidge Properties' Westchester Corporate Park office complex located on Westchester Ave., adjacent to the Cross-Westchester Expressway ( I-287).
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.